The price tag for the campaign will be $20 million, according to The Wall Street Journal. Speaking at a media briefing, Sallie Krawcheck, president of Bank of America Global Wealth & Investment Management, said the amount is more than Merrill Lynch ever spent on its own to promote the wealth management business.
As part of the branding strategy, BofA said in a news release that it will further showcase the Merrill Lynch bull icon, “which has long been a point of pride for Merrill Lynch, representing strength and optimism.” Soon after acquiring Merrill Lynch in January, BofA issued a memo that it would keep the bull icon (see “Merrill’s Bull to Stick Around After BoA Acquisition”).
Merrill Lynch Wealth Management (a new name) kicks off the brand re-launch today with the help2 marketing campaign, running through December. The campaign will be rolled out on television, radio, online media, and various publications, BofA said.
The campaign focuses on the value advisers can offer one-to-one with clients, with four main themes: help2cherish (transferring wealth), help2know (offering personalized advice with access to extensive research), help2comethrough (creating a custom approach for a family’s future needs) and help2retire (focusing on long-term retirement goals).
Also accompanying the brand re-launch is the introduction of “Affluent Insights Quarterly,” a Merrill Lynch survey of the values, financial priorities, and concerns of affluent Americans, BofA said (see “Affluent Investors Happy with Their Adviser“).
“Merrill Lynch Wealth Management exemplifies the positive relationships that our financial advisers forge with clients,” said Krawcheck, in a statement. “With our drive, intelligence and innovative spirit, and our determination to build on the Merrill Lynch tradition of putting clients first, Merrill Lynch Wealth Management is creating a new standard of leadership in our industry as we continue to strive to help our clients make measurable differences in their lives.”
Krawcheck recently took the reins running BofA’s global wealth and investment management business and last week announced her executive team appointments (see “BofA Brings in New Heads for Retirement, Wealth Management”).